Published by Manila Bulletin
Cirtek Holdings Philippines Corporation listed at the Philippine Stock Exchange its stock rights offering (SRO) shares worth P1.37 billion as well as the bonus detachable warrants that came with them.
The SRO consisted of 249.44 million common shares sold at an offer price of 5.50 per Entitlement Right at the ratio of 1 Entitlement Right for every 1.68 common shares to eligible shareholders of record as of 7 July 2021.
In addition to the rights shares, Cirtek issued 249.44 million Bonus Detachable Warrants free of charge. The Exercise Price for the Bonus Detachable Warrant is P5.50.
Abacus Capital and Investment Corporation and PNB Capital acted as Joint Issue Managers and Lead Underwriters.
The said it company intends to use the proceeds from the offer to partially retire its short-term obligations and refinance working capital of its subsidiaries, namely Quintel USA, Cirtek Electronics Corp. (CEC) and Cirtek Advanced Technologies and Solutions, Inc. (CATSI).
Quintel USA designs, develops and delivers advanced high efficiency, high-performance antenna products and solutions that help mobile network operators increase efficiency, enhance quality-of-service, slash costs and accelerate returns.
CEC provides turnkey solutions that include package design and development, wafer probing, wafer back grinding, assembly and packaging, final testing of semiconductor devices, and delivery and shipment to its customers’ end users.
CEC is primarily engaged in the business as an independent subcontractor for semiconductor assembly, test and packaging services. CEC has regular customers spread out in Europe, the US and Asia.
CATSI manufactures valued added, highly integrated microwave and millimeter wave technology products catering to the military, telecommunications, satellite communications, enterprise networks, automotive radar, semiconductor test boards, and industrial segment.
The Cirtek Group has built a strong brand within the industries and customers it serves for developing and delivering innovative high-quality products, production flexibility, supply chain stability, competitive costing and capability to work with customers on development of next generation products.
Mar 14, 2022
Published by Malaya
Cirtek vaccination drive
Cirtek Holdings Philippines Corp. has extended its support to facilitate the drive to have majority of its employees vaccinated against COVID-19.
The company worked with Laguna Technopark’s vaccination facility by fielding its own set of medical volunteers, giving its employees easier access to a vaccination facility directly adjacent to the company’s facility.
This drove the workforce’s vaccination rate to 99.7 percent at present. The company’s medical team is moving forward to provide booster shots.
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Mar 11, 2022
Published by Malaya
Cirtek Holdings Philippines Corp.’s subsidiaries Cirtek Electronics Corp. (CEC) and Cirtek Advanced Technology Solutions Inc. (CATSI), have recently passed their ISO 14000 audits with zero non-conformance.
The certification provides assurance a company effectively established and maintains adequate environmental standards as well as management systems.
Organizations holding an ISO 140001 certificate adhere to the international environmental laws and regulations, run their operations with the aim of preventing pollution, and continuously strive to improve its environmenta...Read more
Jul 09, 2021
Cirtek Holdings Philippines Corp. (Cirtek) has entered into a multi-million projectRead more